Saudi-led consortium pulls out of Newcastle United takeover bid

Talks between the consortium and Michael Ashley, the British retail entrepreneur who owns the club, have been under way since last year on a proposed takeover. (Reuters/File Photo)
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Updated 30 July 2020
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Saudi-led consortium pulls out of Newcastle United takeover bid

  • A statement from the investment group said the decision was made with “a deep appreciation for the Newcastle community and its football club”

DUBAI: A consortium led by Saudi Arabia’s Public Investment Fund has withdrawn a proposed take-over of Newcastle United, the English Premier League football club.

A statement from the investment group, which also included UK investor Amanda Staveley’s PCP Capital and the family business of the British entrepreneur Reuben Brothers, said the decision was made with “a deep appreciation for the Newcastle community and its football club. We believe we could have returned the club to the position of its history, traditions and fans’ merit.”

Talks between the consortium and Michael Ashley, the British retail entrepreneur who owns the club, have been under way since last year on a proposed takeover, with a suggested price tag in the region of GBP300m.

But the negotiations stalled after formal contracts were exchanged in April because of the need for formal approval from the English Premier League, whose rules govern ownership of clubs in the top rank.

The approval process was also delayed by the COVID-19 pandemic that led to the cancellation of English football matches for three months.

“The prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable,” a consortium statement said.

“During the unforeseeably prolonged process, the commercial agreement between the investment group and the club’s owners expired, and our investment thesis could not be sustained,” the consortium said.

It also noted that there was no clarity as to the circumstances under which the next season will start and the new norms will arise for matches, training and other facilities. The English football season is due to restart in September but issues relating to crowd attendance have not been finalized.

The takeover was overwhelmingly supported by fans of the 128 year old club, which boasts among the highest attendances in English football.

“We feel great compassion for the fans with whom we shared a great commitment to help Newcastle harness its tremendous potential and build upon its impressive and historic legacy while working closely with the local community,” the statement added.

The takeover, with Saudi investors in the driving seat, was seen as part of the strategy to diversify the Kingdom’s interests as part of its Vision 2030 plan. PIF has spent nearly $8 billion on foreign investment since the pandemic hit global financial markets.

“Our focus was on building long term value for the club, its fans and the community as we remained committed to collaboration, practicality and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the club,” the consortium said.

“We would like to say that we truly appreciated your incredible expressions of support and your patience through this process. We are sorry it is not to be,” the PIF-led consortium said.


Sinner avoids US Open trapdoor as Swiatek moves into last 16

Updated 01 September 2024
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Sinner avoids US Open trapdoor as Swiatek moves into last 16

  • Australian Open champion Sinner raced past 87th-ranked Christopher O’Connell 6-1, 6-4, 6-2

NEW YORK: Jannik Sinner avoided plunging through the US Open trapdoor which claimed Novak Djokovic and Carlos Alcaraz when he stormed into the last 16 on Saturday as fellow world number one Iga Swiatek stayed on course for a second New York triumph.
Australian Open champion Sinner raced past 87th-ranked Christopher O’Connell 6-1, 6-4, 6-2.
The 23-year-old Italian’s win came a day after four-time champion Djokovic was sent spinning to his earliest loss in New York in 18 years by Alexei Popyrin.
One day earlier, 2022 winner Alcaraz was defeated in the second round by Dutch journeyman Botic van de Zandschulp.
“Today was great match. I knew I had to play very solid. My serve worked well so I am happy with my performance,” said Sinner after firing 15 aces in his 46 winners past outclassed O’Connell of Australia.
Sinner did not face a single break point in his one-hour 53-minute victory which took him into the last 16 for a fourth successive year.
“There have been some upsets in the tournament so let’s see what’s coming. I’m happy to still be here and play as many matches as possible,” added Sinner whose comfortable afternoon on Arthur Ashe Stadium saw tennis legend Serena Williams among the spectators.
Sinner will take on 14th seed Tommy Paul for a quarter-final place after the American defeated Canadian qualifier Gabriel Diallo in four sets.
There were 14 breaks of serve in that tie with Diallo, ranked a lowly 143 in the world, undone by 77 unforced errors.
Four-time French Open champion Swiatek was equally dominant as Sinner as the top-seeded Pole eased into the fourth round with a 6-4, 6-2 victory over Russia’s Anastasia Pavlyuchenkova.
The 23-year-old didn’t face a single break point and will face another Russian, Liudmila Samsonova for a quarter-final place.
“I like the night sessions but it’s noisy so I need to focus on my job and stay inside my bubble,” said Swiatek who shot a long hard stare at her opponent when a ball was speared toward her early in the second set.
“Anastasia is really powerful, she serves fast so I needed to use my intuition of where the ball was going.”
With Djokovic and Alcaraz heading home to Europe, Daniil Medvedev finds himself as the only former champion left in the men’s tournament.
The eccentric Russian, seeded five, faces Flavio Cobolli, the world number 31 from Italy.
Medvedev famously shattered Djokovic’s bid for a rare calendar Grand Slam when he captured the 2021 title in New York.
This year he was runner-up to Sinner at the Australian Open and made the semis-finals of Wimbledon but is without a tour title since winning the Rome Masters in May last year.
If Medvedev makes the fourth round for the sixth straight year he’ll face unseeded Nuno Borges of Portugal who saved three match points in a five-set triumph over Czech teenager Jakub Mensik.
Britain’s Jack Draper reached the last 16 for a second successive year by defeating Alcaraz’s conqueror Botic van de Zandschulp 6-3, 6-4, 6-2.
Meanwhile, 2023 semifinalist Karolina Muchova, who knocked out two-time champion Naomi Osaka in the second round, cruised into the last 16 by beating Anastasia Potapova 6-4, 6-2.
She next faces French Open and Wimbledon runner-up Jasmine Paolini, the fifth-seeded Italian, who beat Yulia Putintseva 6-3, 6-4.
Paolini has now made the fourth round of all four Slams this year having previously never got beyond the second round in 16 attempts.
“I’m a fan of her (Muchova). I really love how she plays. She can play every shot, slice, volleys, serve and volleys. She’s a very complete player,” said Paolini.
US sixth seed Jessica Pegula made the second week for a third successive season by defeating Jessica Bouzas Maneiro 6-3, 6-3.
Pegula next faces Diana Shnaider, the 18th-seeded Russian who made the fourth round of a Slam for the first time by seeing off 37-year-old Sara Errani in straight sets.
Czech Republic’s Tomas Machac, ranked 39, also reached the fourth round of a major for the first time by defeating Belgian veteran David Goffin 6-3, 6-1, 6-2.
He will take on Draper for a spot in the quarter-finals.


Raphinha bags hat-trick as Barca trounce Valladolid in La Liga

Updated 01 September 2024
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Raphinha bags hat-trick as Barca trounce Valladolid in La Liga

  • Raphinha opened the scoring for Barcelona at the Olympic Stadium on 20 minutes as he chested down a pass from Pau Cubarsi and flicked elegantly into the far corner with the outside of his left boot

BARCELONA: Brazil winger Raphinha scored a hat-trick as Barcelona thrashed Real Valladolid 7-0 on Saturday to make it four wins from four in La Liga under new coach Hansi Flick.
While bitter rivals Real Madrid have stumbled early following the much-trumpeted arrival of Kylian Mbappe, Barcelona are off to a flying start despite their continued financial difficulties.
They are also missing Frenkie de Jong, Gavi and Ronald Araujo but have a maximum 12 points heading into the international break, leaving them seven clear of Madrid who face Real Betis on Sunday.
“We’re growing as a team. I think it’s a very good start to the season,” said Barcelona captain Marc-Andre ter Stegen.
“I’m proud of how things are going... hopefully we can continue like that in the next weeks.”
Barcelona’s best start to a La Liga campaign came in 2013-14 when they started the season with eight straight wins, although they were pipped to the title that year by Atletico Madrid.
Raphinha opened the scoring for Barcelona at the Olympic Stadium on 20 minutes as he chested down a pass from Pau Cubarsi and flicked elegantly into the far corner with the outside of his left boot.
Robert Lewandowski soon doubled the lead when he latched onto a ball through from Lamine Yamal and squeezed a shot past Valladolid goalkeeper Karl Hein, on loan from Arsenal.
Jules Kounde made it three before half-time when a corner dropped to the France defender inside the area and he stabbed into the top corner while off-balance.
Raphinha had a simple tap-in from close range just past the hour, with Lewandowski and Yamal involved before the ball broke kindly for the Brazilian.
He completed his treble on 72 minutes following a brilliant burst forward from Yamal, who then slid through a delightful pass for Raphinha to stroke home.
Dani Olmo, who got the winner midweek at Rayo Vallecano, on his debut, struck with his final touch after twice hitting the post and having a goal disallowed for offside.
The Spain international danced past a series of defenders and rolled in Barcelona’s sixth. He missed Barcelona’s first two games this term with the club unable to register him as they struggled to meet La Liga’s strict financial rules.
Raphinha rounded off a glittering performance with the assist for Ferran Torres as Barcelona hit a seventh, fizzing in a cross from the left for the substitute to steer home in clinical fashion.
Atletico snatched a 1-0 victory away to Athletic Bilbao as Angel Correa scored in stoppage time to send Diego Simeone’s side up to second, four points adrift of Barcelona.
Espanyol came from behind to win 2-1 at home to Rayo Vallecano with Tottenham loanee Alejo Veliz striking in the sixth minute of added time.
Ayoze Perez’s equalizer ensured Villarreal remained unbeaten, but they had to settle for a 1-1 draw against a Valencia side that had lost each of their first three games.
Mallorca picked up their first win of the season by beating Leganes 1-0.


Dyche stunned by Everton’s late collapse against Cherries

Updated 01 September 2024
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Dyche stunned by Everton’s late collapse against Cherries

  • Everton have conceded 10 goals in their opening three Premier League matches and sit bottom of the table

LIVERPOOL: Sean Dyche branded Everton’s astonishing 3-2 defeat against Bournemouth as the most frustrating result of his career after they conceded three times in the closing minutes at shell-shocked Goodison Park.
Heading into the 87th minute, Everton led through goals from Michael Keane and Dominic Calvert-Lewin.
But Antoine Semenyo scored with what was then only Bournemouth’s second shot on target in the 87th minute, sparking an embarrassing Everton collapse.
Stoppage-time goals from Lewis Cook and Luis Sinisterra completed a turnaround that Bournemouth boss Andoni Iraola admitted his side did not deserve.
Never in Dyche’s long managerial career with Watford, Burnley and Everton had he experienced just a devastating meltdown.
“I’ve had a few defeats down my years as a player, coach, manager, but this is the most frustrating because to dominate a game for so long and come out of it without something at least is incredibly frustrating,” he said.
“These are ones that as a manager you scratch your head at.”
Everton have conceded 10 goals in their opening three Premier League matches and sit bottom of the table.
They were booed off at the final whistle by their furious fans and once again face a relegation battle after a terrible start to their final season at Goodison before moving into a new stadium.
“I speak to the players all the time and that’s been my biggest frustration since I walked in here. Unfortunately taking chances has been a challenge,” Dyche said.
“For whatever reason they score a goal and we’re just looking at each other, ‘Who’s going to win a challenge, who’s going to win a race, who’s going to win a header?’ We’re waiting for someone else to make a difference.
“After the first goal I could smell it in the air. Not necessarily not winning but I could smell it, ‘This ain’t right’, and I’m screaming at them to get their shape and do the ugly side of the game. We didn’t and they get a win out of nowhere.”


Sports minister Prince Abdulaziz meets with Saudi national team ahead of World Cup qualifiers

Updated 31 August 2024
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Sports minister Prince Abdulaziz meets with Saudi national team ahead of World Cup qualifiers

  • Prince Abdulaziz bin Turki Al-Faisal met with the players and head coach Roberto Mancini

JEDDAH: The Saudi sports minister visited the national football team at their training camp in Jeddah on Saturday as the players prepared for their 2026 World Cup qualifying matches.

Prince Abdulaziz bin Turki Al-Faisal and Yasser Al-Misehal, president of the Saudi Arabian Football Federation, met with head coach Roberto Mancini and his team before the start of their training session.

The Green Falcons host Indonesia in the opening match of round three on Thursday, before traveling to China for the second match on Sept. 10.

Prince Abdulaziz emphasized the importance of the current period in the Asian qualifiers, and asked each player to put in their best effort.

The prince expressed confidence in the players' ability to qualify for the 2026 World Cup in the US, Canada and Mexico.

Al-Misehal thanked the minister for his support, and continuous monitoring of the national teams, stating that everyone was working towards achieving their best for Saudi football.

 

 


Saudi Arabia to host 41st Asian Racing Conference in 2026

Updated 31 August 2024
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Saudi Arabia to host 41st Asian Racing Conference in 2026

  • Biennial ARC is globally renowned event in the. racing industry, attracting owners and leading experts from around the world

RIYADH: Saudi Arabia will host the 41st edition of the Asian Racing Conference in 2026, it was announced on Saturday.

The Jockey Club of Saudi Arabia received the flag from the Japan Racing Association during the 40th conference, which is being held in Sapporo until Sunday.

The biennial ARC is a globally renowned event in the horse racing industry, attracting owners and leading experts from around the world.

It plays a significant role in shaping global and regional agendas for continuous advancement in the industry.

"With the generous support and patronage of the wise leadership, the Jockey Club of Saudi Arabia is pleased to welcome the guests of the 41st Asian Racing Conference to Saudi Arabia in two years," said Prince Bandar bin Khalid Al-Faisal, chairman of the Saudi Equestrian Federation and board member at the Horse Racing Club.

"The deep connection with the sport of horse racing is part of our national identity, and the heritage of horses, their position in our history, and their role in our future are deeply rooted in Saudi heritage and culture.

"If Japan is the starting point of the ARC, then the Arabian Peninsula is the origin from which the foundations of the modern horse originated hundreds of years ago through the purebred Arabian horse," he added.

He thanked the Asian Federation for the opportunity, through which the Kingdom will work to present this prestigious event at the level it deserves in Riyadh, he added.

Saudi Arabia expects to host nearly 1,000 participants from around the world during the  conference, Saudi Press Agency reported.